Established in 1992 in historic Cumberland, MD. (U.S.A), GMS is the world's LARGEST and ONLY ISO 9001 (BV) certified Cash Buyer of ships for recycling. With exclusive representatives in all of the major ship recycling markets in the world, GMS has negotiated about 3,000 ships for recycling since inception. In addition to its original office in the United States of America, the company continues to expand its operations with offices in Hamburg (Germany), Athens (Greece), Dubai (UAE), Singapore, Seoul (Korea), Shanghai (China) and Tokyo (Japan). In addition to having an (exclusive) representative office in Romania, GMS also have exclusive representatives in all major recycling locations i.e. India, Bangladesh, Pakistan, China and Turkey, for a total of 11 locations to serve the needs of our global clients.
GMS is also the FIRST and ONLY Cash Buyer to develop a Green Ship Recycling Program (GSRP) to meet the highest standards of Corporate Social Responsibility (CSR) in the ship recycling industry. GMS continues to lead the ship recycling industry with innovative and practical solutions and pushing the "green" agenda for safer recycling practices. Over the years, we have become the "voice" of the industry in international forums as our team-members are invited the world over to speak at various forums and conferences. GMS is the ONLY Cash Buyer in the world, who has made such a strong commitment to ship recycling with huge investments in infrastructure and human resources.
As the company continues to grow and expand its areas of operations, principals of GMS now own and operate a fleet of wet and dry tonnage, as well as container ships, which are managed by in-house commercial and operations teams that are complimented (as needed) by third-party managers. The management team is headed by seasoned Chief Engineers and former Captains.
GMS’s experience in shipping is complemented by GMS Capital, a new division that is specializing in corporate acquisitions, mergers, new buildings, and second-hand purchases, which augment our principal’s trading fleet. The team has a boutique style, hands-on approach to all transactions and tends to target deals that are either too small for larger PE funds to consider (in the USD 3 - USD 20 million range) or transactions that complement the firm’s core business and competencies within the greater shipping markets.